Is Russell Simmons Still Living Large? The Hip-Hop Mogul’s Net Worth May Shock You

Trailblazer. Russell Simmons is a prominent name in the music industry and founded one of hip-hop’s biggest labels. The Queens, New York, native may be living a life out of the spotlight in Bali, but his income is still impressive. Keep reading to find out Russell Simmon’s net worth and get details on how he earns money.

What is Russell Simmons’ Net Worth?

As of 2023, the entrepreneur has an estimated net worth of $350 million, according to multiple reports.

How Does Russell Simmons Make Money?

Russell co-founded Def Jam Records with Rick Rubin in 1984 while they were still college students. The label has signed notorious artists and groups like Public Enemy, LL Cool J, Run DMC and the Beastie Boys.

After skyrocketing to success, the businessman sold his portion of Def Jam in 1999 for $100 million.

“I’m doing Def Comedy Jam, I was doing Phat Farm, I was doing other stuff,” Russell said during a 2016 Vlad TV interview. “I had smarter people than me working there. Lyor [Cohen] was brilliant. Kevin Liles was great. Mike Kaiser was brilliant. Julie Greenwald was brilliant. I build s--t and then when everybody’s smarter than me I get out of the way.”

Later in the interview, the hip-hop mogul admitted that he sold his share “at the perfect time” when it came down to finances.

“If we were seeking money, we got it at the right time. Everything crashed after that. Then the company exploded, whatever, but still, it crashed,” he continued. “Look, they offered to by [Def Jam Records] at $40 [million], we laughed at them and 18 months later we got 115 [million] or whatever the number.”

Beyond Def Jam, Russell worked in the fashion industry and ran brands like the above-mentioned and also starred on reality TV shows. Russell starred in Running Russell Simmons for one season in 2010 and frequently appeared in his ex-wife, Kimora Lee Simmons’ reality show, Kimora: Life in the Fab Lane, and his brother Joseph Simmons’ Run’s House.

When Did Russell Simmons and Kimora Lee Simmons Get Divorced?

The fashion mogul and Kimora divorced in 2008 after 20 years of marriage. During their relationship, the pair welcomed daughters Ming and Aoki Lee Simmons.

Russell paid the model an undisclosed amount to separate their marital assets, according to Celebrity Net Worth. Additionally, he was ordered to pay $20,000 a month for each of his daughters, totaling $480,000 a year.

Does Russell Simmons Own Real Estate?

Russell has always had property on both coasts of the U.S.

More recently, the entertainer sold his Los Angeles home located above the Sunset Strip for $8.125 million in 2018, making more than a $2 million profit, according to Daily Mail.